June 26, 2017

Australian Inflation lower than expected

26 January 2017, 12:41 | Ignacio Smith

The annual inflation rate hasn't been within the RBA's target band since the September quarter of 2014, reported APP (Australian Associated Press).

A rise in petrol prices has sent inflation to the highest level in more than two years.

The March quarter usually sees a perking up of inflation because of all the increases in government charges and fees at the start of the year.

"We continue to expect the RBA to keep rates unchanged at 1.5 per cent throughout 2017". There is just no dangers to the economy from inflation.

The Reserve Bank of Australia already has interest rates at 1.5 percent, creating a conundrum as to what course of action the central bankers can take to spark inflation growth.

We recognize Barrow as Gambia's President - South Africa gov't
After taking the oath of office, Barrow called on the U.N., African Union and ECOWAS to enforce the outcome of the election. Gambian citizens won't get to witness first-hand one of the most important democratic transitions in their country.

"A February rate cut looks unlikely at this stage - the labour market is holding up and the RBA may want to monitor the recent uptick in investor loan growth because of the risk to financial stability".

Beacher attaches the likelihood of such an outcome at around a 60%, with her forecast for core inflation, also referred to as underlying inflation, above the median economist forecast for a quarterly increase of 0.5% leaving the year-on-year rate at 1.5%.

The December inflation quarter data will be released on Wednesday by the Australian Bureau of Statistics.

Rising costs for tobacco (7.4 per cent), automotive fuel (6.7), vegetables (2.5) and restaurant meals (1.1) were some of the biggest contributors to rising prices, but weren't enough to push the result closer to the Reserve Bank's target. These rises are partially offset by falls in furnishings, household equipment and services (-0.8 per cent) and communication (-0.8 per cent).

Dragging the index down was a 2.6 per cent fall in the prices of worldwide holiday travel and accommodation in the quarter, a 5.1 per cent fall in the price of clothing accessories and a 3.2 per cent fall in the price of non-alcoholic beverages.

Other News

Trending Now

German Social Democrats endorse Schulz as chancellor candidate
The newspaper also reported that Gabriel will give up his role as Economy Minister and seek the Foreign Minister position. The party is expected to formally decide on Schulz's candidacy for chancellor in the near future.

A global conversation about mental health #BellLetsTalk
Kocis organized the performance to help end the stigma around mental health. "It's just incredible the difference you can see". Every time you talk, text and join in on social media on January 25, Bell will donate 5ยข more to mental health initiatives.

Deepika Padukone overwhelmed with XXX response
As much as that may seem a confirmation, Deepika later admitted that it was all mere fantasy, speculation done inside her own head.

Existing home sales close 2016 as best year in a decade
In spite of the decline at the end of year, 2016 has been the best sales year since 2006, noted TD Economics in a research report. The recent drop in home sales comes after a three month increase, so experts aren't too concerned about the latest numbers.

North Korea builds two road-mobile intercontinental ballistic missiles - Yonhap
US military has plans to launch a new satellite on Friday and will stream the launch live. The officials stressed it is unclear what kind of missiles would be launched or when.

LinkedIn Undergoes A Major Website Design Overhaul
Looking at a job listing, for example, can trigger a recommendation to contact a specific connection who works at that company. In November previous year , Facebook introduced features similar to the key features of LinkedIn like Job Listing.

France's Safran launches US$9b offer for Zodiac Aerospace
The pending merger will now be subject to approval from regulatory agencies, and is expected to be finalized by early 2018. The companies said a subsequent merger between Safran and Zodiac would boost earnings per share from year one.

Italy avalanche: first 10 survivors found
With 15 GDF rescuers and firefighters digging, the survivors could hear their efforts and knew help was on its way, Bini said. The 300-metre wide snow slide uprooted trees and wiped out parts of the four-storey hotel, trapping dozens of people.

Nintendo returns to smartphones with 'Fire Emblem Heroes' action RPG
To prepare for the launch of Fire Emblem Heroes , today Nintendo kicks off the Fire Emblem Heroes: Choose Your Legends event. Like its other mobile games, it might become available first on iOS before landing on Android.

OPEC expects growth in global oil demand
Last month, the Paris-based agency said it expected USA tight oil - as shale is also known - to rise only "marginally" in 2017. After a recovery late past year , the oil market seems to have settled with a price around $55 a barrel... at least for now.